With Frank Polverino, Malcolm Wattman
On July 26, 2011 the Securities and Exchange Commission (the "SEC") issued a release (the "Proposing Release") revising and re-proposing certain rules (the "Proposed Rules") initially proposed in April 2010 related to asset-backed securities in light of the provisions added by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") and comments received on the 2010 ABS Proposals.